KuCoin says the pool will incentivize the use of renewable energy.
The Chinese company entered into a purchase agreement with Cryptodigital Holdings for the acquisition of the miners.
The plant will be able to provide up to 200MW of power by the end of 2022.
Aydin Kilic will oversee the company's operations across its data centers in Canada, Iceland and Sweden.
The company generated $266 million in revenue from its crypto mining cards, more than $130 million below its forecast earlier this year.
Previously an online sports lottery operator, BIT Mining said it has now completed its transformation into a crypto mining and data center company.
The crackdown on crypto mining in China has helped the results and outlook for the Canadian bitcoin mining firm.
The Antminer S19j Pro machines will be delivered in stages during the first half of next year.
The increase also came at a time when bipartisan support emerged for excluding miners from being considered “brokers” in the U.S. infrastructure bill.
The two firms will launch a new mining site in Kazakhstan that will be used to deploy The9's mining machines and potentially other third-parties' machines.
The fund will invest 80% of its capital in crypto-miners and 20% in semiconductor companies that take advantage of cleaner energy sources.
Neighboring Kazakhstan has attracted many crypto mining firms as they look for greener pastures outside China.
The council's survey focused on the crypto mining industry's electricity consumption and sustainable power mix.
Following China’s recent crackdown on crypto mining, GPUs have dropped in price.
Computer hardware sites are beginning to see GPU stocks come back to pre-pandemic levels while prices have dropped 5%-10%.